Private equity fund values in Jersey crossed the £100 billion mark last year, the first time this has happened, the island’s funds industry said.
The value of private equity funds on the island reached £114.5 billion – which is equivalent to €134.3 billion - after a 38% rise over the year.
Jersey is a prime centre for fund administration of alternative investment funds and in figures released last week said assets under administration of all regulated funds grew 10% in 2018 to reach £319.9 billion.
The figures were attributed to the financial regulator, the Jersey Financial Services Commission (JFSC).
Combined total value of infrastructure, credit and debt funds increased by 28% to stand at £64.8 billion, while the value of real estate funds grew by 10% to £41.4 billion and hedge funds increased by 3% to £52 billion.
Joe Moynihan, chief executive of industry body Jersey Finance, said the success was down to asset managers “finding long-term appeal in Jersey’s regulatory standards, the global market access it can offer, its specialist expertise, and its forward-thinking approach”.
*Jersey and Guernsey recently agreed MoUs with the UK over post-Brexit market access.
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